Trademarks are the rights granted to companies or individuals to use their brand names. They allow them to prevent other businesses from using similar names or logos. In other words, they give the owner exclusive rights over their name, mark, logo, etc.
Trademarks are the rights granted to companies or individuals to prevent their goods from being copied. They represent your company’s brand identity and protect its goodwill. If someone uses your trademark without permission, they risk facing legal action or even having their products seized by the authorities.
Trademark registration is a process to establish your property rights for a particular mark. Trademark registration is challenging because it requires a lot of paperwork and research. However, registering a trademark gives you exclusive rights to its use, which can provide many benefits. Protection under trademark law can also make it difficult for competitors to use your name for marketing their products. Trademark registration can make a big difference for your business or company.
Trademark registration is an important step in protecting your business from infringements. Suppose you have a business and are still unregistered. In that case, this blog post will look at the benefits of trademark registration for companies and businesses operating in the Philippines.
What are the benefits of trademark registration?
The advantages of registration include the following:
- A registration is ostensive evidence of the trademark owner’s ownership rights. The validity of trademark registration and the rights granted to the registration holder are established by trademark registrations as prima facie evidence.
- The sole right to use the logo or mark. When a trademark is registered, the owner is given several rights, including the exclusive right to use the mark in connection with specific goods or services, the ability to sue for trademark infringement, remedies for unauthorized use of such marks, and the right to object to the use or registration of nearly identical symbols or marks.
- The right to use the symbol ®. A trademark’s owner can use the ® sign concerning the goods and/or services for which the trademark has been successfully registered as soon as the registration has been approved.
- The owner is granted the license to use the trademark. A registered trademark may be licensed to a third party if the licensee is listed on the trademarks register and grants the licensee the right to use the trademark and bring an infringement claim.
- An intangible asset to a brand. When a trademark is registered, the goodwill associated with it can be transferred in much the same manner as any other asset owned by a person or business. To transfer such goodwill without registering the trademark, one would have to sell the entire company while it was still operating.
- The registration acts as a shield against any encroachment of the brand name. If a trademark is registered, it is inferred that it does not infringe on any other trademarks already registered on the trademarks register.
- There is a financial advantage to registering. Most of the time, a company’s non-tangible assets account for most of its overall value. As a result, if a company’s trademarks have great value, the owner may include them in the company’s financial accounts. The proper authorities may contest the projected value of such a brand if the holder registers the trademark.
The Philippines is a member country of the Madrid Protocol. Thus, the country follows a first-to-file system, where a mark having an earlier filing date prevents the registration of a mark that is similar but has a later filing date. Trademark protection is achieved through registration, and in some cases and under particular circumstances, trademark protection can also be obtained with enough public recognition. In the Philippines, applications for multiple classes of trademarks are accepted.
Pro Tip: These marks are typically associated with a particular business. The term trademark is often confused with patent registration. A trademark protects a mark from being copied and used by another party without permission. Patents protect inventions and ideas.
We hope this post can provide you with the information you need to decide whether it’s worth it for you and your company. Trademark registration is a legal procedure through which an individual or corporation obtains exclusive rights over a certain mark. It is quite important to consider trademark registration in the Philippines. Trademark registration can offer your business protection in the Philippines, but it can also give you the advantage of exclusivity.Trademarking a business name is a way to protect your business from other companies using similar trademarks. To obtain a trademark registration, you must apply with the IPOPHL. You’ll receive TM (trademark) status in the database if successfully filed. After receiving TM status, you’ll have five years to use the trademark before someone else can file a competing trademark.